Season 9, episode 22.
Original air date: 15 March 1960.
Cast: Red Skelton (Freddie the Freeloader, Vincent Price (Gilbert), Jackie Coogan (Muggsy), Byron Foulger (Museum Guard), Earnest Sarracino (Gino), Jim Cross (1st Man), David Rose and His Orchestra (Themselves) and Art Gilmore (Announcer).
Freddie the Freeloader`s shack is identified as being located on Paradise Lane, c/o city dump.
From ImDB.

I've never heard of Vincent Price taking a pratfall, but he certainly wasn't beneath throwing a tantrum to be on the Red Skelton Show. ;)

Freddie the Freeloader (the hobo clown) was Skelton's best known comic character. Many thanks to someone for uploading this video to the archive, so that we can see Skelton doing what he did best.

I miss all the old variety shows (such as this one), which were produced by people who understood what makes good entertainment. Sure, they were fluffy, silly, and stereotyped (somewhat), and they made it possible to take a break from life just long enough to come back at it a little more refreshed.

This episode is called "Freddie's Masterpiece" and was first aired on March 15, 1960.